Accel Entertainment (NYSE:ACEL – Get Free Report) had its price target upped by stock analysts at Citizens Jmp from $14.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price points to a potential upside of 18.76% from the stock’s current price.
A number of other brokerages have also recently weighed in on ACEL. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday. National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research note on Wednesday. Zacks Research downgraded shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.
Read Our Latest Research Report on ACEL
Accel Entertainment Price Performance
Accel Entertainment (NYSE:ACEL – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The company had revenue of $368.13 million during the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%. As a group, analysts anticipate that Accel Entertainment will post 0.72 earnings per share for the current fiscal year.
Insider Transactions at Accel Entertainment
In related news, Director Bruce D. Wardinski acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $11.55 per share, with a total value of $577,500.00. Following the purchase, the director owned 50,000 shares of the company’s stock, valued at approximately $577,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark T. Phelan sold 25,000 shares of Accel Entertainment stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $325,000.00. Following the completion of the transaction, the chief operating officer directly owned 241,464 shares in the company, valued at approximately $3,139,032. This represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 104,277 shares of company stock worth $1,259,917. Corporate insiders own 14.47% of the company’s stock.
Institutional Investors Weigh In On Accel Entertainment
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in shares of Accel Entertainment by 18.9% in the first quarter. Quantinno Capital Management LP now owns 123,906 shares of the company’s stock worth $1,352,000 after purchasing an additional 19,734 shares during the period. Lazard Asset Management LLC grew its holdings in Accel Entertainment by 17.1% in the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after buying an additional 43,663 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Accel Entertainment by 63.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after buying an additional 421,047 shares during the period. Caxton Associates LLP acquired a new position in shares of Accel Entertainment during the first quarter worth approximately $208,000. Finally, Orvieto Partners L.P. boosted its position in shares of Accel Entertainment by 74.8% in the first quarter. Orvieto Partners L.P. now owns 133,838 shares of the company’s stock valued at $1,460,000 after acquiring an additional 57,292 shares during the period. 55.39% of the stock is owned by institutional investors and hedge funds.
Accel Entertainment Company Profile
Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.
Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.
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